VA Lending
The benefit you earned, priced honestly
Eligible service members, veterans, and surviving spouses can buy with no down payment and no monthly mortgage insurance. Summit has closed VA loans since 1948.
What a VA loan does differently
The Department of Veterans Affairs guarantees part of the loan, which lets us lend on terms a conventional program cannot match.
No down payment
Qualified borrowers with full entitlement can finance 100% of the purchase price. On a $400,000 home that is $80,000 you do not have to have saved.
No monthly PMI
Conventional loans under 20% down add private mortgage insurance, often $180 to $260 a month. VA loans never carry it, at any down payment.
Capped closing costs
VA rules limit what a lender may charge you and bar several fees outright. Sellers may also pay up to 4% of the price toward your costs.
Rates below conventional
VA loans typically price 0.25% to 0.50% under a comparable conventional loan because of the government guaranty behind them.
A benefit you can reuse
Entitlement restores when a VA loan is paid off, so this is not a once-in-a-lifetime program. Some members use it three or four times across a career.
Officers who know the file
Our VA team handles these loans every day, including the awkward cases: a reserve income history, a PCS mid-escrow, or a restoration of entitlement.
The funding fee, plainly
The VA charges a one-time fee instead of monthly insurance. It can be rolled into the loan rather than paid at the table.
Rates current as of July 2026 and subject to change. Membership eligibility required. This is a demonstration website; rates, products, and figures shown are illustrative only.
Certificate of Eligibility
Your COE is the document that unlocks all of it
The Certificate of Eligibility is the VA's confirmation that you qualify and how much entitlement you have left. You do not need it in hand to start; we can pull it electronically in most cases while you are on the phone.
How a VA purchase runs
Confirm eligibility
We pull your Certificate of Eligibility and read your remaining entitlement. This takes minutes, not weeks, and tells us whether zero down is available to you.
Get pre-approved
VA underwriting weighs residual income, not just debt-to-income ratio. That is often kinder to a military household than a conventional calculation.
VA appraisal and notice of value
A VA-assigned appraiser sets value and checks minimum property requirements. Budget about two weeks; we chase the report so you do not have to.
Close
Sign, fund, and take possession. Typical VA purchase closings at Summit run 30 to 35 days from a complete application.
Common questions
Who is eligible for a VA loan?
Generally, veterans and active duty members with 90 continuous days in wartime or 181 days in peacetime, National Guard and Reserve members with six years of service, and unremarried surviving spouses of service members who died in service or from a service-connected disability.
Is there a VA loan limit?
Not for borrowers with full entitlement; you can borrow what you qualify for. If you have an existing VA loan or a prior claim, county limits determine how much of a new loan the VA will guarantee, and we will walk that number with you.
Can I avoid the funding fee?
The fee is waived entirely for veterans receiving compensation for a service-connected disability, for those rated eligible to receive it, and for qualifying surviving spouses. Otherwise it is unavoidable, but it can be financed into the loan.
Can I use a VA loan for a rental property?
No, the home must be your primary residence, and you generally must occupy it within 60 days of closing. You may, however, buy a two to four unit building and live in one of the units.
What credit score do you require?
The VA sets no minimum score. Summit generally looks for 600 or above on VA files, and because we underwrite in-house we read the whole picture, including residual income and time in service.
Can I refinance an existing VA loan with Summit?
Yes. An Interest Rate Reduction Refinance Loan needs no new appraisal or income documentation in most cases, and carries a reduced 0.50% funding fee.
Let us pull your entitlement
One call tells you whether zero down is on the table and what your funding fee would be. Thank you for your service.